Zacks Investment Research upgraded shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) from a hold rating to a buy rating in a research note issued to investors on Saturday. The firm currently has $82.00 price target on the semiconductor company’s stock.

According to Zacks, “Silicon Laboratories Inc. design and develop proprietary, analog-intensive, mixed-signal integrated circuits for the rapidly growing communications industry. Mixed-signal integrated circuits are electronic components that convert real-world analog signals, such as sound and radio waves, into digital signals that electronic products can process. Mixed-signal integrated circuits are critical components of numerous communications products, including cellular telephones, cable and satellite set-top boxes, modems and fax machines. “

Several other equities analysts also recently commented on SLAB. B. Riley reiterated a buy rating and set a $81.00 price target on shares of Silicon Laboratories in a report on Tuesday, May 2nd. Stifel Nicolaus reiterated a buy rating and set a $85.00 price target (up previously from $82.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. BidaskClub upgraded Silicon Laboratories from a hold rating to a buy rating in a report on Wednesday, August 16th. Needham & Company LLC reiterated a buy rating and set a $85.00 price target (up previously from $80.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. Finally, Drexel Hamilton reiterated a buy rating and set a $85.00 price target (up previously from $80.00) on shares of Silicon Laboratories in a report on Saturday, April 29th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $80.10.

Silicon Laboratories (SLAB) traded up 0.41% during midday trading on Friday, reaching $73.50. 105,044 shares of the company’s stock were exchanged. Silicon Laboratories has a 52 week low of $54.30 and a 52 week high of $79.15. The firm has a market capitalization of $3.13 billion, a P/E ratio of 43.83 and a beta of 1.25. The stock’s 50 day moving average is $73.06 and its 200 day moving average is $72.23.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.71 by $0.08. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The company had revenue of $190.10 million for the quarter, compared to the consensus estimate of $186.46 million. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts expect that Silicon Laboratories will post $3.06 EPS for the current fiscal year.

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In other news, CEO George Tyson Tuttle sold 75,000 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $74.89, for a total value of $5,616,750.00. Following the sale, the chief executive officer now owns 208,592 shares in the company, valued at $15,621,454.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John C. Hollister sold 2,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $71.20, for a total transaction of $142,400.00. Following the completion of the sale, the chief financial officer now owns 72,767 shares in the company, valued at approximately $5,181,010.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,000 shares of company stock worth $7,515,875. 34.82% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Silicon Laboratories by 3.0% in the first quarter. American Century Companies Inc. now owns 120,459 shares of the semiconductor company’s stock valued at $8,860,000 after buying an additional 3,549 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Silicon Laboratories by 11.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,652 shares of the semiconductor company’s stock valued at $1,813,000 after buying an additional 2,566 shares during the period. State Treasurer State of Michigan boosted its position in shares of Silicon Laboratories by 1.2% in the first quarter. State Treasurer State of Michigan now owns 17,000 shares of the semiconductor company’s stock valued at $1,250,000 after buying an additional 200 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Silicon Laboratories by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 25,075 shares of the semiconductor company’s stock valued at $1,844,000 after buying an additional 1,160 shares during the period. Finally, Geneva Advisors LLC purchased a new position in shares of Silicon Laboratories during the first quarter valued at approximately $634,000. Institutional investors and hedge funds own 89.04% of the company’s stock.

About Silicon Laboratories

Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

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